The department of accounting provides a rigorous course of study in the accounting discipline. The goal of the program is to leverage the liberal arts environment of the college and develop skilled problem- solvers with a solid foundation in accounting.
The program provides opportunities for students to develop:
- Critical thinking skills
- Communication skills
- Ability to utilize quantitative and qualitative information for decision-making
- Ability to make value judgments
- Learning to learn skills, while providing the theoretical accounting foundation necessary for success in future endeavors.
Future endeavors may include graduate study, sitting for a professional examination (e.g., CPA, CMA, CIA), or employment with a large corporation, CPA firm, or not-for-profit entity.
The program emphasizes understanding the "big" picture instead of mastering a myriad of technical detail without understanding the context for those details. Accounting knowledge and measurements are developed in an environment which is continuously evolving in response to political, social, and economic factors.
In our courses we explore the historic reasons for current practices, evaluate alternative measurement models, and discuss ethical values affecting the accounting profession.
The third floor of McMichael Academic Hall houses the faculty offices and classrooms which serve accounting majors. Three classrooms in McMichael Academic Hall (303, 312 and 313) are equipped with video/computer projections systems. Most classrooms have tables that facilitate the learning process. Info bases for financial reporting standards, auditing standards, and tax research are available and utilized by students in their coursework.
The department encourages and facilitates the participation of its students in a range of off-campus programs. In the past, students have spent a semester at a non-U.S. educational institution which permitted them to gain exposure to international accounting and business practices. Students who are interested in off-campus programs need to consult with their advisor early in their academic career to ensure completion of graduation requirements in eight semesters.
Graduate School Opportunities
Monmouth College graduates are prepared to enter MBA or MS in Accounting programs with proper scheduling of classes in consultation with their academic advisor. Illinois currently requires 150-semester hours of education to sit for the CPA exam including a bachelor's degree in accounting. Some students have elected to enter graduate school directly after graduation, others have elected to enter the workforce and plan to enter graduate school later. In some cases, a graduate's employer will pay for the cost of graduate school if the individual is willing to work full-time and go to school part-time.
The department has agreements with several graduate programs which allow students to enter the graduate program immediately upon graduation. These agreements may require students to complete courses beyond the major requirements. If this option is desired, early contact with an academic advisor in the department is recommended to ensure the graduate program requirements are met.
As part of the department's assessment program, the Master Field Test (MFT) in Business is administered to accounting seniors in the spring. In Spring 2004 and 2006, the average score placed the program in the top 5% in the country, and over the past ten years the average score placed the program in the top 25% in the country.